Recent from finishing its acquisition of Uber’s Southeast Asia business, ride-hailing agency Seize has formally launched its meals supply enterprise — GrabFood — immediately.
The service is already out there in beta in a handful of nations, together with Thailand, however now it’s out there in Singapore (Grab HQ) with plans to succeed in Seize’s core six markets in Southeast Asia within the coming months. As a part of its acquisition of Uber Southeast Asia, Seize took cost of UberEats within the area and moved its retailers and buyer base to GrabFood earlier than shuttering the Uber service.
GrabFood is out there as a standalone app in Singapore, however in nations the place Seize provides motorbikes on-demand the service is built-in into the core Seize app. The service will compete in opposition to the likes of Deliveroo, FoodPanda, Go-Jek’s GoFood, and others.
The GrabFood service can be tied to Seize’s rewards and loyalty program — GrabRewards — and clients can use money, playing cards or GrabPay to pay for his or her orders. Two notable options permit clients schedule orders prematurely whereas there’s additionally no minimal spend on orders.
Seize introduced a deal to purchase rival Uber’s native enterprise in March, though the deal itself doesn’t appear to have progressed fairly as easily as anticipated. As TechCrunch reported last month, a combination of regulatory issues, disgruntled workers scheduled to transition to Seize and shopper concern on the lack of competitors have weighed on what’s Seize’s coming-of-age second.
Nonetheless, Seize stated in a press release that its transfer into meals supply is a vital a part of its technique to develop “an interconnected ecosystem of shopper providers to make the on a regular basis lives of individuals simpler.”
Eradicating Uber could have made that purpose extra lifelike, however Seize will face competitors regionally after Go-Jek, the market chief in Indonesia that’s backed by the likes of Google and Tencent, confirmed plans to expand to four new markets imminently. Go-Jek is placing $500 million behind that enlargement, which it stated shall be modeled on a companion strategy that offers native founding groups full management of the enterprise in every new nation.
Fairly than standing nonetheless, Seize is reported to be elevating $1 billion in contemporary funding at a valuation of $10 billion, according to the Wall Street Journal. That might signify a major improve on the $6 billion valuation that Seize commanded when it gobbled up $2 billion from SoftBank and China’s Didi Chuxing final July.
Go-Jek, in the meantime, not too long ago raised round $1.5 billion from an inventory of traders that embody Tencent, JD.com, Google, Allianz, Meituan and Singapore-based funds GIC and Temasek.